Augmented reality (AR) and virtual reality (VR) technologies are experiencing heavy penetration in the training and infotainment market due to the wide spectrum of possible application areas. Virtual reality is the three dimensional interactive world produced by a computer. The term 'augmented reality' was introduced as a variation of virtual reality; it is a form of technology used to enhance a real time object by imposing a virtual image over it. Augmented reality application was first used for the development of virtual advertisement on television then it expanded to applications in gaming and entertainment.

Augmented reality is still in a progressive stage and focuses on wearable technology like goggles, contact lens and so on which will be commonly used in the future. Much research and development is taking place in application areas such as healthcare, education, military, enterprise and others. The increase of demand in virtual reality application in the healthcare industry shows a tremendous growth and will act as a major driver for the market. Market growth has resulted in an exponential increase in the number of companies operating in the augmented reality/virtual reality domain. The companies which provide virtual reality and augmented reality tools to the developers are reinforcing their position due to the increase in the competition.

In this report the total market is segmented according to various technologies, components, application and, geography. The report includes quantitative data analysis for various technologies used in virtual reality and augmented reality. The types of virtual reality used are immersive VR, non immersive VR, projected VR and CAVE (Chicago automatic virtual environment). The technologies used in augmented reality are marker based augmented reality and mark-less based augmented reality. The components used in virtual reality system are tracker, sensor, auditory interface, haptic interface, and 2D & 3D simulation software. Tracking system, sensor and display are the components used in the augmented reality system. The virtual reality and augmented reality offers good opportunities in application areas like healthcare, education, military, enterprise, and so on. The report includes segmentation and analysis of the market by types, components and, application which gives an in-depth understanding of emerging AR and VR market.